Tag Archives: big tech

Capital Securities Miami

Hedge Fund Manager Ken Griffin is Moving Citadel Securities from Chicago to Miami

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Capital Securities Miami

Another large corporation recently declared it would relocate its headquarters to Miami. Hedge fund manager and billionaire Ken Griffin said in a letter to his staff on Thursday that Citadel, his investment firm, will be moving to Miami after more than 30 years in Chicago.

“I am excited to share with you that Citadel is moving its global headquarters to Miami. Miami is a vibrant, growing metropolis that embodies the American Dream. I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy,” states Griffin’s letter to his staff.

Griffin acknowledged previous assistance from influential business and political figures and referred to Chicago as Citadel’s “amazing home” in the memo. However, he has claimed in other places that an increase in crime has made it more difficult for Citadel to recruit top talent, leading the company to increase its headcounts in other locations while decreasing it in Chicago.

Griffin stated in April, “If people aren’t safe here, they’re not going to live here. I’ve had multiple colleagues mugged at gunpoint. I’ve had a colleague stabbed on the way to work. Countless issues of burglary. I mean, that’s a really difficult backdrop with which to draw talent to your city from.”

The new office building will be built “on Brickell Bay” and will be designed in collaboration with Chicago developer Sterling Bay. 1201 Brickell Bay Drive is one potential location. The site, the sole unoccupied property on the bay in Brickell, just sold for a record-breaking $363 million to an anonymous LLC with a Chicago address.

Griffin, the wealthiest person in the state, is also the most prominent philanthropist in Chicago, according to a Forbes estimate of his net worth at more than $25 billion.

He has given about $500 million to regional organizations and intends to contribute even more, but he is also well known for his large political contributions, including $50 million to Richard Irvin, a Republican candidate for governor.

The transfer of Citadel is anticipated to take several years. More than a thousand people work for the firms in Chicago, and while some are anticipated to stay, it is unclear how many.

Top Tech Giants in Miami

Top Tech Giants That Made the Move to Miami in 2021

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Top Tech Giants in Miami

A slew of new technology executives and investors have relocated or acquired houses in Miami during 2021. This is of no surprise with the growing tech industry, cryptocurrency evolution, and just better benefits/housing opportunities for companies/execs emerging in the Miami area.

Here are the top 10 big tech execs that have made their way to Miami in 2021:

  • Co-founder of Paypal, Peter Thiel recently purchased 2 Miami mansions for a total of $18 million in Miami Beach. Thiel is also the co-founder of Founders Fund who recently leased office space in Wynwood.
  • General partner for Bling Capital, Benjamin Ling purchased a mansion on Palm Island for $28 million.
  • CEO of Goody, Edward Lando purchased a $15.1 million mansion on the Venetian Islands. Not only did he purchase on the Venetian Islands but he did purchase a Miami Beach home in April for $3.3 million.
  • CEO of PKWARE, Spencer Kupferman purchased a waterfront mansion in Bay Harbor Islands for $12.75 million in September.
  • Former CEO of Paypal, Bill Harris relocated to Wynwood where he launched Nirvana Technology in 2021.
  • CEO of SeedInvest, Ryan Feit moved to Miami shortly after he opened an office for this company in Miami.
  • Co-Founder of Oracle, Larry Ellison bought a mansion in North Palm Beach after Oracle downsized and relocated to South Florida.
  • CEO of Teal, David Fano moved his corporate headquarters from New York to Miami in February 2021.
  • Co-Founder of Spectrum Labs, Justin Davis moved to South Florida after Spectrum’s headquarters moved from San Francisco to Miami even though they are still allowing their company’s employees to work remotely.
  • TechCrunch Founder, Jack Arrington purchased a home in Coral Gables for $16 million in the Old Cutler Bay neighborhood.

Miami is not only the ideal location for techies but for the Month of November, Miami was considered one of the most popular U.S. destinations to relocate to. This is the fourth month in a row that Miami is leading the nation and you can bet, that it will continue to be the go-to city.

Microsoft Office In Miami

Microsoft Officially Announces Move to 50,000 Square Foot Space in Brickell

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Microsoft Office In Miami

As more tech companies and their execs flock to Miami, another quintessential name is making a surprising move to Brickell.

Microsoft Corporation has recently signed a lease for a 50,000 square foot space in the Brickell Financial District. The property located at 830 Brickell is centrally located in Downtown Miami near the 500,000 square feet of open-air luxury shopping and close proximity to iconic residential towers.

Microsoft’s official headquarters is located in Redmond, Washington and this new location will move its Latin America Team and make the Brickell location their regional hub.

In a press conference to announce their new location, Microsoft’s Vice President of Sales, Marketing, and Operations; Mariana Castro, announced that this team will be supporting other Microsoft businesses.

Castro also stated that they look forward to the opportunity to be a part of a rapidly expanding city and they look forward to growing with Miami.

The commercial building at 830 Brickell rises 55 stories and offers 640,000 square feet of commercial rental space. The building was designed by Adrian Smith + Gordon Gill and developed by Oko Group and Cain International.

The building is currently under construction and the anticipated completion date is scheduled for 2022. This building is Brickell’s first new office building to be built in over 10 years.

Other tenants in the building include a private equity firm, managed by Thomas Bravo, who leased a 36,000+ square foot space in January 2021.

Microsoft will join giants like Live Nation, Spotify, Boston Private, and Uber in Miami in this new wave of businesses moving to South Florida. With this massive transition for Microsoft, we can only expect this announcement will push other companies into taking a closer look at Miami as home.

The Future is Here – Miami Sees Its First Delivery Robots

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Miami's First Food Delivery Service is Here

Cartken, a robotics startup, has recently partnered with REEF Technology to introduce self-driving delivery robots to Downtown Miami. REEF Technology currently offers fulfillment solutions, neighborhood kitchen deliveries, and parking solutions.

Founders of Cartken include ex-Google engineers, and have been developing this type of delivery service since 2019. This will be Carken’s first major introduction of self-driving robots in Miami.

While only operating within a 3/4 mile radius of downtown Miami, Cartken has been testing their electric-powered robots fulfilling orders from delivery-only kitchens. These robots are operating on the REEF’s network, are insulated, and can maintain heat for hot meals. Cartken already has designated logistics hubs and can be dispatched to restaurants while the food is being prepared.

Food Delivery Robots Come to Miami

Matt Lindenberger, REEF’s Chief Technology Officer stated, “We want to show how future-forward Miami can be. This is a great chance to show off the capabilities of the tech.”

There are currently only two restaurants utilizing Cartken in Miami with a large potential for expansion in other neighborhoods.

The robots are powered by rules-based programming and can actually stop and ask for help if necessary. Lindenberger stated, “The robot is seeing the environment, planning around obstacles like pedestrians or lampposts. If there’s an unknown situation, someone can help the robot out safely because it can stop on a dime.”

According to TechCrunch, the robots can only make it to street-level, where the customer has to come outside to pick up their food. Apartment complexes and units would be more difficult for the robot to navigate.

We will be following this story closely and will update as we learn more and as more restaurants begin using Cartken!